AVEEX vs. NEAIX

Last updated Jul 16, 2026

AVEEX (Avantis Emerging Markets Equity Fund) and NEAIX (Needham Aggressive Growth Fund Institutional Class) are both mutual funds - AVEEX is a Emerging Markets Diversified fund managed by Avantis Investors, while NEAIX is a Small Cap Growth Equities fund actively managed by Needham. Over the past 5 years, AVEEX returned 8.43%/yr vs 21.25%/yr for NEAIX. A 0.66 correlation means they provide meaningful diversification when combined. AVEEX charges 0.33%/yr vs 1.20%/yr for NEAIX.

Performance

AVEEX vs. NEAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Emerging Markets Equity Fund (AVEEX) and Needham Aggressive Growth Fund Institutional Class (NEAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVEEX achieves a 18.21% return, which is significantly lower than NEAIX's 47.40% return.

AVEEX

• 1D: 0.92%
• 1M: -6.18%
• 6M: 12.79%
• YTD: 18.21%
• 1Y: 31.89%
• 3Y*: 20.51%
• 5Y*: 8.43%
• 10Y*: —

NEAIX

• 1D: 1.22%
• 1M: -8.52%
• 6M: 36.09%
• YTD: 47.40%
• 1Y: 67.66%
• 3Y*: 31.31%
• 5Y*: 21.25%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AVEEX vs. NEAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
AVEEX Avantis Emerging Markets Equity Fund	18.21%	32.09%	7.68%	15.15%	-18.15%	5.21%	15.72%	7.38%
NEAIX Needham Aggressive Growth Fund Institutional Class	47.40%	26.99%	14.86%	38.37%	-27.02%	38.46%	52.49%	7.29%

Correlation

The correlation between AVEEX and NEAIX is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (All Time) Calculated using the full available price history since Dec 4, 2019	0.66

The correlation between AVEEX and NEAIX has been stable across timeframes, ranging from 0.65 to 0.71 - a consistent structural relationship.

Return for Risk

AVEEX vs. NEAIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AVEEX

AVEEX Risk / Return Rank: 62
AVEEX Sharpe Ratio Rank: 61
AVEEX Sortino Ratio Rank: 50
AVEEX Omega Ratio Rank: 65
AVEEX Calmar Ratio Rank: 73
AVEEX Martin Ratio Rank: 61

NEAIX

NEAIX Risk / Return Rank: 86
NEAIX Sharpe Ratio Rank: 87
NEAIX Sortino Ratio Rank: 76
NEAIX Omega Ratio Rank: 76
NEAIX Calmar Ratio Rank: 96
NEAIX Martin Ratio Rank: 95

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AVEEX vs. NEAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Emerging Markets Equity Fund (AVEEX) and Needham Aggressive Growth Fund Institutional Class (NEAIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AVEEX	NEAIX	Difference
Sharpe ratio: Return per unit of total volatility	1.71	2.31	-0.60
Sortino ratio: Return per unit of downside risk	2.22	2.77	-0.56
Omega ratio: Gain probability vs. loss probability	1.33	1.37	-0.04
Calmar ratio: Return relative to maximum drawdown	2.61	4.85	-2.24
Martin ratio: Return relative to average drawdown	9.23	16.65	-7.42

AVEEX vs. NEAIX - Sharpe Ratio Comparison

The current AVEEX Sharpe Ratio is 1.71, which is comparable to the NEAIX Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of AVEEX and NEAIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AVEEX vs. NEAIX - Drawdown Comparison

The maximum AVEEX drawdown since its inception was -36.45%, roughly equal to the maximum NEAIX drawdown of -35.93%. Use the drawdown chart below to compare losses from any high point for AVEEX and NEAIX.

Drawdown Indicators

	AVEEX	NEAIX	Difference
Max Drawdown Largest peak-to-trough decline	-36.45%	-35.93%	-0.52%
Max Drawdown (1Y) Largest decline over 1 year	-12.64%	-13.98%	+1.34%
Max Drawdown (3Y) Largest decline over 3 years	-17.34%	-28.21%	+10.87%
Max Drawdown (5Y) Largest decline over 5 years	-31.96%	-35.93%	+3.97%
Current Drawdown Current decline from peak	-7.13%	-11.32%	+4.19%
Average Drawdown Average peak-to-trough decline	-10.21%	-8.55%	-1.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.57%	4.07%	-0.50%

Volatility

AVEEX vs. NEAIX - Volatility Comparison

The current volatility for Avantis Emerging Markets Equity Fund (AVEEX) is 9.43%, while Needham Aggressive Growth Fund Institutional Class (NEAIX) has a volatility of 12.59%. This indicates that AVEEX experiences smaller price fluctuations and is considered to be less risky than NEAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVEEX	NEAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.43%	12.59%	-3.16%
Volatility (6M) Calculated over the trailing 6-month period	17.54%	24.75%	-7.21%
Volatility (1Y) Calculated over the trailing 1-year period	19.33%	29.39%	-10.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.60%	25.40%	-8.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.11%	24.93%	-5.82%

AVEEX vs. NEAIX - Expense Ratio Comparison

AVEEX has a 0.33% expense ratio, which is lower than NEAIX's 1.20% expense ratio.

Dividends

AVEEX vs. NEAIX - Dividend Comparison

AVEEX's dividend yield for the trailing twelve months is around 2.96%, more than NEAIX's 1.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
AVEEX Avantis Emerging Markets Equity Fund	2.96%	3.50%	2.93%	3.51%	3.48%	1.92%	1.52%	0.26%	0.00%	0.00%
NEAIX Needham Aggressive Growth Fund Institutional Class	1.37%	2.01%	0.00%	0.00%	0.00%	6.84%	3.80%	10.42%	16.35%	5.14%

Frequently Asked Questions

Can I hold both AVEEX and NEAIX in my portfolio?

AVEEX and NEAIX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVEEX or NEAIX?

NEAIX has higher volatility (12.59%) compared to AVEEX (9.43%). In terms of maximum drawdown, AVEEX dropped -36.45% vs NEAIX's -35.93%.

Which has better risk-adjusted returns?

NEAIX currently has the higher Sharpe Ratio (2.31 vs 1.71), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.